MetalFX to close, deemed non-core
By William Mitting Thursday, 06 November 2008
Metallic colour specialist MetalFX (MFX) is to close after parent company Ciba Coating Effects decided the business did not fit in with its core operations.
The Leeds-based company will close on 19 December but a telephone support line will be established for 12 months after the business closes, MetalFX said.
In a letter to customers seen by PrintWeek, Jim Walker, business manager, said: "The main reason [for the closure] is the business does not fit in with Ciba Coating Effect's core business, not the potential for the product in the design, printing, packaging and publishing markets."
The letter added that all management, sales, technical, marketing, finance and administrative staff in the Ciba MFX business will be contactable until the business closes on their normal numbers and email addresses.
Speaking to PrintWeek, Walker said that the parent company had other priorities for investment and took a strategic decision having explored a number of alternatives.
"An MBO was considered but it would have taken a substantial investment to make the business viable," he said.
A consultation period has begun with staff at the site with the anticipation that many will retain jobs elsewhere at the company.
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